NQ1! Chart for 5/18-5/19 S/D LevelsChart Link: www.tradingview.com
Not seeing much resistance on the chart for a further push up, HOWEVER, JPOW is speaking tomorrow.
Preparing for major moves tomorrow: BULLS 13980-14140 (major rejection R5 level). BEARS 13759-13792 to grab demand zone liquidity, if we fall heavy then 13677.
We have lots of gaps to the downside to cover but we have broken last August 2022 highs so I want to see this breakout continue strong or a retest and then push up higher for the coming weeks. Debt ceiling meeting soon and EOM is right around the corner too!
NASDAQ 100 E-MINI FUTURES
$NQ1! - Busy week ahead! CME_MINI:NQ1! - Busy week ahead!
We've got a busy calendar ahead of us and remember it's first day of the month - May a Lot of US Data!
1. ISM
2. JOLTS
3. ADP
4. FOMC
5. NFP
Now that's a busy week and I know for some, they will be stepping back and not trading during a hectic week ahead, but I do feel there will be plenty of opportunities. Now, banking sector is at the key spot light ahead of this week mentions of First Republic Bank will be acquired by JPMorgan after rescue efforts fail. It's not first time this year, we've heard a bank go under, and unfortunately that's part of the cycle as rates head higher, a lot of sectors get hurt, look at real estate and this is what I mentioned months prior - I well recommend researching more in depth. Keep in mind FED want a 2% target for inflation...Expectation is for the FOMC to lift rates by 25bps at its May meeting, now the real question is will they pause after this hike or carry on, whilst we got credit tightening...
Now technically looking at NQ
Highs: 13391
Lows: 12787
At the moment we've got Kangaroo action until a break to either side - If we are to break the highs, I expect next area of interest to be 13660 areas. However, we are to break the lows, I expect 12481 areas.
NQ has held relatively well within the conditions we are in, interesting times ahead.
Have a great week ahead,
Trade Journal
NQ1! 5/17-5/18 S/D LevelsCrazy longs played out today. I have been focusing on my new accounts I started and just passed them today so I haven’t been putting time to posting on social. Also some personal news affected my performance so I needed to spend my extra focus on getting through and by.
I’m looking for a play into this heavy supply zone but a rejection back to pivot P. We have approached the top trend line so I want to see continue break or reject into bottom trend line. Nonetheless we are in an uptrend and no crazy news except debt ceiling concerns in the meeting coming soon !
NQ WedgieDefinitely wedgie pattern here and MFI is overbought. Guessing RSI goes overbought as well by the end of the week.
Powell talks Friday morning, maybe that causes a tank. Nobody likes the Village Idiot anymore.
WMT and GOOS puts for earnings tomorrow, not going long today. Too early to short anything else I think.
NQ1!: Short Trading Opportunity
NQ1!
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell NQ1!
Entry - 13523.75
Stop - 13741.25
Take - 13197.25
Our Risk - 1%
Start protection of your profits from higher levels.
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NQ1! Will Move Lower! Short!
Take a look at our analysis for NQ1!.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 13516.50.
The above observations make me that the market will inevitably achieve 13324.00 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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NQ1! Under Pressure! SELL!
My dear friends ,
I analysed this chart on NQ1!, and concluded the following:
The price is coiling around a solid key level - 13509.50
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 13320.00
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
NASDAQ broke above the 1W MA100 after a year!Nasdaq (NDX) is extending the bullish trend inside the short-term Channel Up as mentioned on are recent idea two weeks ago (see below):
Today the index reached a very important benchmark as it broke above the 1W MA100 (green trend-line) for the first time in more than 1 year (since the 1W candle of April 25 2022). This was a critical Resistance as it rejected the uptrend back on the week of August 15 2022. With the 1D MA50 (blue trend-line) supporting and the Channel Up that started in December intact, we see a Resistance test of the 13730 High as inevitable, so there is your short-term target if you are looking for one.
On the longer term, since the February 02 Higher Highs trend-line broke, the Channel Up can target the November 15 2022 Higher Highs trend-line. A typical +11% rally within this Channel Up can easily target this trend-line, so now we are setting a 14100 long-term target on Nasdaq. Especially if the 1D RSI breaks above its own Lower Highs trend-line.
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NQ1! SHORT FROM RESISTANCE
Hello,Friends!
The BB upper band is nearby so NQ1! is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 13279.50.
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#NASDAQ Can Go Higher $NQ $NDX On The Higher Time FramesTraders, We have been bullish since the last quarter of 2022 on this market. NASDAQ now is reaching a point of a possible breakout. Short term it can go a down a bit but on this higher time frame, it is still forming a bigger W FCP Pattern which means that it is still on its target to reach higher levels.
Please note that the chart is Weekly timeframe.
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The content of this analysis is subject to change at any time without notice and is provided for the sole purpose of education only.
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$QQQ When will the uptrend line break?NASDAQ:QQQ When will the uptrend line break?
sym·me·try
the quality of being made up of exactly similar parts facing each other or around an axis.
"this series has a line of symmetry through its center"
similarity or exact correspondence between different things.
Combined US indexes - Where the spike up?IF you are getting a little frustrated, I am too... something is building up and meanwhile there is a lot of conflicting signals.
The week passed, and it appears to suggest the opposite now... a breakdown is more likely... 60/40 in favour of a breakdown, if I may quantify.
Set up the Breakout and Breakdown levels, and waiting for some real commitment.
Meanwhile, MACD histograms indicate a bearish divergence
VolDiv crossed down too.
Very simply... volatility coiling to spring, and if no break out soon, it will breakdown. Sounds a bit obvious, but watching it pan out is half the fun.
Enjoy!
NAS Ending Diagonal Triangle Break It doesn't get more obvious than this. We're probably headed back to 12k at the very least on a corrective wave. Fed GDP forecasts are really all you need to see to know lots of rate hikes and taxes coming soon. It's halving every year, and that's an optimistic estimate. Don't wanna spook the market. fred.stlouisfed.org
NQ1! NAS100USD NASDAQ 2023 15 May WeekCME_MINI:NQ1!
Last week 1 trade done at short from rotation high, stopped out,
we will be looking at possible senarios below:
1) Breakout success: Price comes down on lower volume, finds support,
for a Test and Accept long. Nearest target is 13740.
2) Breakout Failure: Price rejected at higher prices, for a test and
reject short, back into rotation area.
Note: If you see higher lows being formed in the rotation area, this may
be followed by a successful break, and market will
attempt 13740. Draw your trendlines to observe.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
15186 13740 13350
12936 12130
Price Volume Analysis:
Weekly: No Demand narrower spread up bar close off high = Weakness
Daily: Higher bullish volume observed, close off high = weakness
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Have a profitable trading week.
*For education purpose only.